POLI330N Week 6 DP 1-1 Presidential Advisor

Hello Professor and class, I’m happy to report that I’m actually not the advisor to the President, but I’ll do my best to pick the cuts that will not hurt our Country. It is certainly difficult since I do not have a thorough understanding of how my cuts will impact American citizens or the overall economy of our country. I feel that it probably takes years of training and expertise in this area to have a full understanding of the implications of my selections. My first selections have to do with taxes. First, I would institute a Millionaire's tax on income above $1 million totaling $50 billion. Second, I would end tax cuts for income above $250,000 a year which will add $54 billion. Third, I would add a payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare totaling $50 billion. I would not end tax cuts for those who make less than $250,000. This would be a huge addition to the budget, but these tax cuts for the middle class have proved to increase the American economy (OMB, 2019). According to the Office of Management and Budget (OBM) (2019), in The Mid- Session review FY 2019, the tax reforms put in place increased the middle-class income on average of $4,000 per year. This increase in income helps with family’s ability to privately invest and has spurred the economy (OBM, 2019). I understand that the wealthy will be unhappy about these decisions, but decreasing the gap between the rich and the poor is appropriate in my opinion. The gap is huge and there is no reason why the wealthy are unable to contribute more money in taxes. I’m sure there is no way that a wealthy person would want to trade places with a poor person! In my opinion we can use the income of the wealthy to help with the national budget issues. According to Magstadt (2017), the wealthiest Americans are able to avoid taxes based on tax loopholes (p. 405). This is ridiculous to me and should be managed better. So far, my decisions total $154 billion. I’m halfway there so the rest should be easy right? Wrong! However, more cuts need to be made in order to reverse the growing national deficit. The next area I am choosing to cut is in the federal workers area. I will cut the pay of civilian federal workers by 5 percent totaling $14 billion and reduce the overall fe